INTEREST OF PARTIES. Executive agrees that the duration of the limitations set forth in this Section 13 are reasonable under the circumstances, considering Executive's position with the Corporation and other relevant factors, and that this will not constitute a serious handicap to Executive in securing future employment.
INTEREST OF PARTIES. No officer, member or employee of Municipality, its designees or agents and no member of its governing body who exercises any functions or responsibilities in the review or approval of the undertaking or carrying out of this project, shall participate in any decision relating to this Contract which affects his/her personal interest or the interest of any corporation, partnership, or association in which he/she is directly or indirectly interested, or have any personal or pecuniary interest, direct or indirect, in this Contract or the proceeds thereof.
INTEREST OF PARTIES. Party: Interest: RIDGELAKE ENERGY, INC. (“OPERATOR”) *50.00 % GULFX, LLC **12.50 % SOUTH MXXXX LLC ** 7.50 % LION ENERGY LIMITED LLC **30.00 % 100.00 % * (NOTE: It is recognized that, pursuant to the terms of that certain Seismic Acquisition and Exploration Agreement dated effective September 7, 2004, by and between Ridgelake Energy, Inc. and Beacon Exploration and Production Company, L.L.C., Beacon has the right to participate for up to a 10% working interest in OCS-G 27091. Should Beacon or its designee be determined to have properly elected to acquire a working interest in OCS-G 27091, then it is understood that such interest will be conveyed by Ridgelake to Beacon or its designee. Furthermore, it is agreed that the conveyance by Ridgelake to Beacon or its designee under the terms of the aforesaid Seismic Acquisition and Exploration Agreement shall not be subject to the terms of this agreement until such time as Beacon or it designee has ratified and/or otherwise accepted the terms of this Operating Agreement. In particular, the Parties herein specifically understand and agree that the aforesaid conveyance by Ridgelake to Beacon ir its designee is not subject to the terms of Article 25.3 and 25.6 of this Operating Agreement.) ** (NOTE: It is recognized and understood that the respective interests credited to GulfX, LLC, South Mxxxx LLC and Lion Energy Limited LLC are subject to the terms and conditions of the following Participation Agreements: 1) that certain Agreement dated January 18, 2006, by and between Ridgelake and GulfX, LLC, (2) that certain Agreement dated September 18, 2006, by and between Ridgelake and South Mxxxx LLC, and (3) that certain Agreement dated September 18,2006, by and between Ridgelake and Lion Energy Limited LLC. As such, the interest, which is conditioned upon the performance by GulfX, South Marsh and Lion of all of the terms and conditions contained in the aforesaid Participation Agreements. Should the said parties fail to earn an interest in OCS-G 27091 under the terms of the Participation Agreement that is applicable to that party’s conditional interest, then it is recognized that the interest credited to that party shall revert to Ridgelake. Furthermore, it is understood and agreed that if there is a conflict between the terms and conditions of the Participation Agreements referenced herein and this Operating Agreement, then the terms of the applicable Participation Agreement shall apply and take precedence over the terms ...
INTEREST OF PARTIES. Exhibit "D" lists the respective interests of Operator and each Developer in the net revenues (after payment of royalties, overriding royalties, production payments, share of development and operating ex-penses) and ownership of the xxxxx, equipment and production with respect to the xxxxx to be drilled hereunder, except as otherwise provided in Section 20.
INTEREST OF PARTIES. If all or a substantial part of the Premises are taken for any public or quasi-public use under governmental law, ordinance or regulations, or by right of eminent domain, or by purchase in lieu thereof, and the taking prevents or materially interferes with the use of the Premises for the purpose of which they were leased to Tenant, this Lease shall terminate and the rent shall be abated during the unexpired portion of this Lease, effective on the date of such taking. If less than a substantial part of the Premises are taken for any public or quasi-public use under governmental law, ordinance or regulations, or by right of eminent domain, or by purchase in lieu thereof, this Lease shall not terminate, but the rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. All compensation awarded in connection with or as a result of any of the foregoing proceedings shall be the property of Landlord and Tenant hereby assigns any interest in such award to Landlord; provided however, Landlord shall have no interest in any specific award to Tenant for loss of business or goodwill or for the taking of Tenant's fixtures and improvements, if a separate award for such items is made to Tenant.
INTEREST OF PARTIES. Indemnity contract gets formed upon indemnifier`s interest and guarantee contract gets formed upon principal debtor`s interest.
INTEREST OF PARTIES. 5. Oil and Gas leases Subject to this Agreement:
INTEREST OF PARTIES. Liberty #1 Well Interest (only) basis is 100% (8/8) working interest, 75.0% net revenue interest. Owner Before Payout After Payout Xxxxxx Petroleum, Inc. 12.50 % 12.50 % Xxxxxx Petroleum, Inc. or assignees 4.90 % 3.50 % Mountain Home Petroleum BT 5.00 % 15.00 % Freedom Oil & Gas, Inc. 12.50 % 12.50 % Nostra Terra Oil & Gas plc 7.00 % 5.00 % Xxxxxxx X. Xxxxxx 0.00 % 10.00 % J. David & Xxxxxxx X. Xxxxx JTWROS 14.00 % 10.00 % Xxxx Xxxxxx 0.70 % 0.50 % Xxxxxxx X. Xxxxx 1.05 % 0.75 % Jupiter, LP (Xxxxx Xxxx) 2.10 % 1.50 % Xxxxx XxxXxxx 1.75 % 1.25 % 1700395 Ontario Limited (X.X. Xxxx) 1.40 % 1.00 % Xxxxx X. Xxxxx 5.60 % 4.00 % Xxxxx X. Xxxxxxx XXX 0.70 % 0.50 % Xxxx X. Xxxxx 0.70 % 0.50 % Xxxxx X. Xxxxxxxx and/or Xxxxxx X. Xxxxxxxx, Trustees Revocable Trust of Xxxxx X. Xxxxxxxx 1.40 % 1.00 % K & D Black Properties, LTD 3.50 % 2.50 % Xxx Xxxxxxx 3.50 % 2.50 % Xxxxx X. Xxxxxxxxx 0.70 % 0.50 % Xxxxxx X. X. Xxxx 2.80 % 2.00 % Xxxxxx Xxxxxx 2.10 % 1.50 % Xxxxx Xxxxxxx 4.20 % 3.00 % Xxxxxx Xxxxxxx 4.20 % 3.00 % Xxxxxx Energy LLC 2.80 % 2.00 % R. Xxxx Xxxxxxxx 2.10 % 1.50 % Xxxxxx Xxxxxx 1.40 % 1.00 % Xxxxx X. & Xxxxxx Xxxxxx JTWROS 1.40 % 1.00 % Total: 100.00 % 100.00 %
INTEREST OF PARTIES. Participants shall receive up to 50% of the Working Interest after Completion and up to 37.5% of the Net Revenue Interest in the Well after Completion if all Units are sold. Each Unit entitles the holder thereof to 2.0% of the Working Interest and 1.5% of the Net Revenue Interest in the Well after Completion. Unless otherwise herein specifically provided, all costs and liabilities incurred under this Agreement attributable to the Participant share of the working interest shall be borne and paid by the Participants, and all Equipment and Material acquired for completion and after completion shall become property of, and therefore owned, by the Participants. All production of Products from the Well or Xxxxx, subject to the prior payment of royalties, shall also be owned by the Participants.
INTEREST OF PARTIES. 7.1 WARISAN GROUP JOINT VENTURE: Seventy Percent (70%)
